Is Timberlake, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Timberlake has remained a Seller's Market.
Key Takeaway
Timberlake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Timberlake, VA
How much do homes in Timberlake, VA cost?
Median Sold Price
$285,000
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Timberlake have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Timberlake was $285,000 in May 2024, up 3.6% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $214.9K | $275K | +27.9% |
| 3 Bedrooms | $270K | $272.5K | +0.9% |
| 4 Bedrooms | $305.5K | $297.5K | -2.6% |
| 5+ Bedrooms | $300K | $355K | +18.3% |
Summary: Timberlake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.9%, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 18.3%.
Housing Supply in Timberlake, VA
How many homes are available in Timberlake, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 20 | +185.7% |
Summary: The Timberlake real estate market had 20 homes for sale in May 2024, a 185.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 4 | 11 | +175.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Timberlake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 175%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Timberlake, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Timberlake in May 2024, up by 100.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Timberlake, VA
How long does it take to sell a home in Timberlake, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 16 Days | +6.2% |
Summary: Homes in Timberlake had an average of 16 days on market in May 2024, up by 6.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Timberlake are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Timberlake; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.